As Americans continue to be concerned about the price of gas and general cost of living in today's unpredictable economy, they look for ways to save and get the most "bang for their buck." September is National Coupon Month and a reminder that clipping coupons is an easy and fun way to save.
According to recent research from the Promotion Marketing Association's (PMA) Coupon Council, many consumers are already taking advantage of the savings opportunities. The recent PMA Coupon Council Internet survey of 1,000 people found that:
- 89 percent of the overall population report that they use coupons when shopping (for grocery, household and healthcare items at supermarkets).
- 97 percent of primary shoppers report that they use coupons at supermarkets.
- Coupon users report an average of seven percent savings on their grocery bill with coupons.
"Consumers love coupons -- they are a great way to economize, stretch the grocery budget and try new products for less than retail price," says Charles Brown, Co-Chair of the PMA Coupon Council.
"And particularly when shoppers are pinched by rising gas and energy costs, as well as increasing food prices, coupons offer an easy chance to save. All consumers have to do is organize their shopping to buy items with the coupons available to them -- whether in their newspaper, in their mailbox, in the store or on the internet." Brown added.
Shoppers See Value in Coupons
Typical Savings Studies have shown that shoppers who spend 20 minutes per week clipping and organizing their coupons can save up to $1,000 per year. (With an average annual family grocery bill of $5,000 that means 20 minutes could result in a 20 percent savings from coupons).
The typical family saves between $5.20 and $9.60 per week using coupons. Those who spend 10 minutes or less per week clipping and organizing their coupons (46 percent of shoppers) still achieve an average $7.00 weekly savings on their grocery bill.
PMA Coupon Council Co-Chair Matthew Tilley adds, "In this environment, shoppers can be particularly responsive to coupon offers. But so far in 2008, CPG marketers haven't really changed the number of coupons available, therefore consumer redemption is steady with last year. That's a significant change because until last year, we saw 15 years of declining coupon redemption in the U.S."
Other Coupon Usage Statistics
- Approximately $2.6 billion is saved annually by shoppers using manufacturer's coupons when shopping for packaged products.
- More than $350 billion of packaged goods coupons are offered annually.
- Today, the average value is approximately $1.25 per coupon.
- Nearly 90 percent of all coupons are issued in the Sunday newspaper Free Standing Inserts (FSI), but coupons are also available directly in many retailers' ads or in the store, and in magazines, in and on the package, on the Internet, and even in your mail box.